In response to the extension of the “Law on Preventing, Combating, and Mitigating the Negative Social and Economic Impacts of the COVID-19 Pandemic,” the Trade and Development Bank (TDB) is continuing to support its clients. Those who wish to defer their mortgage payments can submit a request by clicking here. Applications will be accepted until April 15, 2022.
Important Notes:
- Clients who have previously deferred their mortgage payments are reminded to submit a new request to extend the deferment period from June 30, 2022, to December 31, 2022.
- Applications must be submitted by the primary borrower only.
- Insurance premiums for life and property must continue to be paid according to the schedule.
- Clients submitting a new request must pay the accrued interest for the period from their last loan repayment date up to the date of the new request.
- Clients will need to sign an “Amendment to the Loan Agreement” to reflect the changes to the loan terms.
- Applications for mortgage deferments are open to borrowers who were active as of April 15, 2022.
- For first-time applicants, changes to loan terms will take effect starting from the application submission date.
Confidentiality and Security:
To protect client confidentiality, TDB will only communicate directly with the borrower and will not engage with third parties regarding loan agreement amendments. Clients are advised to keep their information confidential and avoid potential risks by refraining from sharing their details with others.
TDB remains committed to supporting its clients and working together to overcome financial challenges during these uncertain times.